Dec 22, 2012 3:00am PST
wealth in america. stephen moore. stephan, you are the bearer of bad news this morning. how much are our taxes going to get hit in just two weeks? >> well, good morning, guys. merry christmas. you though, this is an unbelievable situation because it's been, what, five or six weeks since the election. abc it's amazing that they are still as far apart today from getting a deal as they were when we first started talking about this. if we do go over the cliff. by the way i agree with peter. i still there is a slim chance at getting something done next week before new year's eve. but if we don't get that deal, we're talking about a very major tax increase. not just on people like warren buffet and bill gates but middle class folks. by my calculations if you look at all the taxes that are going up. if we go over the cliff you are talking about if you are a middle class family earning between 45 and $75,000 your tax bill will go up $2,500 a year. >> we have some of these statistics by category here on the screen. this is modern. from zero dollars to $20,000. you are still going to get hit.